NLG Insurance to close book on January 27 for upcoming right issue

Jan 28, 2020 03:38 PM Merolagani

NLG Insurance is set a date to close its book for the upcoming right issue. The board of directors meeting of the company held on January 27 decided to close its book on February 10.

Accordingly, the shareholders registered in its book till January 26 will be eligible to apply for the right shares.

The company is issuing 3,842,737 units of right shares at a ratio of 10:6. After the right issue, the paid-up capital of the company will reach Rs 1.02 billion.

The SGM of the company held on May 28 endorse a proposal of issuing 60 percent right shares. The company has appointed Laxmi Capital as its issue manager. ICRA Nepal has assigned Grade 3 rating to the right issue indicating average fundamentals.

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